[CAFR-Contacts-News] No Backdating Balanced Transfers Processed After June 30!

[HAMILTON Robert W * DAS]

Hello CAFR Accountants,

An early reminder:  Agencies must not backdate interagency Balanced Transactions (BTs) processed after June 30.

Because interagency transfers impact cash at Treasury, backdating current transactions can cause reconciling problems for the receiving agency and may result in audit comments/findings. The effective date for both sides of this transaction type must equal the current system date with one exception:

Backdating an adjustment affecting cash is acceptable in Month 13 if all of the following conditions are met:

*      The adjustment affects D23 funds within the same agency;

*      The affected D23 funds are in the same GAAP fund; and

*      The affected D23 funds are tied to the same Treasury Fund.

Otherwise, agencies must make every effort to record interagency transactions attributable to FY 2015 on or before June 30.

If you are unable to complete your interagency BTs before June 30, you will need to record accrual entries (due to/due from, etc.) during Month 13 to accurately reflect FY 2016 activity.

For more information on T-codes that should not be used during Month 13, please refer to the Agency Guide to Year-end Closing, Chapter D, Section D.2 at: http://www.oregon.gov/das/Financial/Acctng/Pages/Yr-end-cls.aspx
Another helpful resource is the SFMS Desk Manual: Central Processing Cent. 4 at: http://www.oregon.gov/das/Financial/AcctgSys/Documents/cent4.pdf

Thanks,

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published

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